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Description

The BSA / AML / OFAC Compliance Officer is responsible for developing, implementing and administering all aspects of the Bank Secrecy Act Compliance Program, and for assuring that the bank is in compliance with the Bank Secrecy Act, USA Patriot Act, OFAC, and all other applicable laws.

Currency Transaction Reports and Bank Secrecy Act began in 1970. While the basic premise has remained the same, the amount of bureaus and regulations has reached staggering proportions. The BSA exam manual is now 442 pages. The Treasury Department has designated FinCEN, Financial Crimes Enforcement Network, to oversee the Bank Secrecy Act. Civil Monetary Penalties for non compliance from thousands to millions of dollars continue to make headlines. Willful disobedience can be blamed on the board of directors down to the compliance department.

The federal government requires all banks and credit unions to have a board designated Bank Secrecy Act Officer. FinCEN also requires the BSA Officer and team are well qualified and trained to carry out the duties of this important position. Employees at the financial institutions are required to have initial and ongoing training on money laundering and BSA. Many people choose to outsource employee training, but this course will teach the teachers how to teach. You will be recognized within the bank or credit union as the go to expert.

This interactive two day class prioritizes and focuses on the framework, education and tools needed to properly manage this department within a financial institution. Attendees will participate in case studies, discussions and real world scenarios that they can take back to their departments to implement regardless of their asset size.

Learning Objectives:

Learn how the four pillars of BSA need to be implemented with appropriate policies and procedures to effectively manage compliance within the laws.

Learn different agendas to train the board of directors, lenders, loan processors, customer service, tellers and other front line staff.

Learn about monitoring for and completing currency transaction reports.

Learn about monitoring for and completing suspicious activity reports.

Learn how to bank money service businesses that they and your bank will appreciate.

Learn how the roles of FinCEN, OFAC and the USA Patriot Act impact your institution.

9:00 - Program outline. Why BSA? How did it get started? How to operate it?

9:15 - How to take notes

Items to study

Need action plan to implement

Need to update policy or procedure

9:30 - 4 Pillars of BSA/AML Program

System of internal controls to monitor compliance

Currency Transaction Reports

Monetary Instrument Logs

Wire Transfers

Paypal and other virtual or digital currency

Independent testing

Board designated BSA Officer/staff

Training for staff - How to train your board and employees

10:30 - Break

10:45 - Board Training

11:00 - Job Specific Training

11:15 - Front Line Training

11:45 - Morning wrap up. Case Study

12:00 - Lunch

1:00 - Currency Transactions

Aggregating Large Currency Transactions

The New “BSA – CTR”Electronic Form

CTR Exemptions

Monetary Instrument Logs

2:00 CTR Case Studies

2:15 Break

2:30 Suspicious Transactions

Detecting

Investigating ( Including proper use of the 314b Voluntary Sharing to make your investigations more effective)

Reporting – The New “BSA-SAR” Electronic Form

3:30 - SARS by the numbers

3:45 - Break

4:00 - Money Service Businesses

4:30 - Day 1 review. Case Study. How would you launder money?

5:00 - Dismiss

Day 02(9:00 AM - 4:30 PM)

9:00 - Day one review

9:15 - The role of FinCEN

9:30 - The role of OFAC

9:45 - USA Patriot Act

10:00 - 314A scans and other watch lists

10:15 - Discuss current exams

10:30 - Break

10:45 - Risk Assessment

Tailoring to the Financial Institution

Risk Rating of Customers

11:45 - Morning Wrap Up. Questions

12:00 - Lunch

1:00 - CIP (Customer Identification Program)

1:30 - CDD (Customer Due Diligence)

2:00 - EDD (Enhanced Due Diligence)

2:30 - Break

3:00 - BSA tools and software

3:30 - BSA for Tellers: Detecting Suspicious Activities

4:00 - Case Studies, Questions, Wrap up.

4:30 - Dismiss

Speaker

Armen Khachadourian President and Founder, Digital Payments LLC

Armen Khachadourian is the founder and president of Digital Payments Inc, a consulting firm providing advisory services in the areas of merchant processing, ISO/MSP formation, merchant portfolio and acquiring acquisitions, prepaid and alternative payment products including decoupled debit. As a trusted partner with vision to understand his client’s future business he has helped design and evaluate several new products and services in today's changing marketplace, such as: development of connectivity products for payment cards; digitization of electronic benefit transfer and means tested programs; merchant card acceptance and capital funding solutions; cross border money transfer and bill payment services; BSA/AML best practices and guidelines; and, alternative payment products and services, prepaid and gift.

Mr. Khachadourian has also served in executive positions at several top ten financial institutions and helped them maximize growth and revenues in today’s challenging electronic payments marketplace. As a vice president of JPMorgan Chase’s Prepaid Product in Treasury Services, he was responsible for designing and launching prepaid cards in the EU market. As a senior vice president at Visa USA, he expanded card acceptance to new markets such as supermarkets, recurring payments, quick service restaurants and federal government agencies. His expertise in card products extends to issuance of credit, debit, prepaid and commercial cards.

Mr. Khachadourian earned a bachelor’s degree in mathematics and a master’s degree in computer science from the San Jose State University in California. He authored the “Basics of Data Communications” textbook and lectured at College of San Mateo, CA. He was awarded an honorary teaching credential by the State of California. Mr. Khachadourian is a member of the United States National Masters team; he has represented United States at four world championships. He is an accomplished marathon runner and tri-athlete, having completed in seven Ironman competitions.

Please contact the event manager Marilyn below for the following:- Discounts for registering 5 or more participants.- If you company requires a price quotation.Event Manager Contact: marilyn.b.turner(at)nyeventslist.comYou can also contact us if you require a visa invitation letter, after ticket purchase.We can also provide a certificate of completion for this event if required.